About the Author

Glenn E. Stevick, Jr., ChFC®, CLU®, LUTCF is an assistant professor of insurance at The American College. He serves as an author-editor in the LUTC Program, where his responsibilities include writing study material for the LUTC courses. His current course responsibilities include FA 202 Techniques for Meeting Client Needs, FA 251 Essentials of Business Insurance, FA 257 Essentials of Life Insurance Products, and FA 271 Foundations of Estate Planning. Since 2001, he has taught HS 311 Fundamentals of Insurance Planning, HS 323 Individual Life Insurance, and HS 324 Life Insurance Law, offered through The College's Huebner School in its special off-campus course program. www.TheAmericanCollege.edu.

All life insurance products are actuarially created by calculating the relationships of mortality, interest, and expense, and the financial values resulting from each based on time. The assumptions made concerning these three factors will determine the premium at which a policy is sold, the structure of the policy, and over time the performance of the policy and the profitability and solvency of the life insurance company. All life insurance policies, regardless of type, are based on these same … [Read more...]

All life insurance products are actuarially created by calculating the relationships of mortality, interest, and expense, and the financial values resulting from each based on time. The assumptions made concerning these three factors will determine the premium at which a policy is sold, the structure of the policy, and over time the performance of the policy and the profitability and solvency of the life insurance company. All life insurance policies, regardless of type, are based on these same … [Read more...]

Variable annuity (VA) living benefits were developed around 2000 as a way to offset the inherent risks in equity investing, and provide guaranteed policy values to clients interested in retirement income. With the recent downturn in the economy, concern has been raised regarding the viability of these benefits and even the insurers who issue them.
As these benefits came to market, an “arms race” followed as insurers tried to create products with better benefits than their competitors. They … [Read more...]

There are many life insurance products on the market today that address a range of consumer needs. However, we must remind ourselves of the advantages that whole life insurance offers our clients. Whole life has been much maligned over the years by some, and many see it as outdated because of newer, more flexible policy designs available today.
A whole life contract offers guarantees and security not found in universal and variable policies that base mortality and expense costs on an increasing … [Read more...]